FEDERAL ESTATE TAXATION: The present Estate Tax Exemption Amount is increased to $5,430,000; this exemption amount may be reduced by certain lifetime gifts. The calculation of the taxable assets includes life insurance unless same has been transferred to a trust. The Federal Estate tax rate is also forty per cent (40%). The present law permits the surviving

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Senate bill S2899 has been introduced by Senator Bernie Sanders (I-Vt.) that would establish the federal estate tax rate to be 40% on all estates worth $3,500,000 but less than $10,000,000, and 50% on all estates in excess of $10,000,000 but less than $50,000,000. Thereafter the estate tax rate would be 55% on estates in

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